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Italy's UBI restructures insurance joint venture with Ageas, BNP Paribas Cardif

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Italian banking group UBI Banca S.c.p.A. is restructuring its nonlife insurance joint venture with Ageas Group and BNP Paribas Cardif, Reuters reported.

Ageas and BNP Paribas Cardif are set to become owners of UBI Banca's stake in UBI Assicurazioni. They have also signed a contract for distribution of UBI Assicurazioni's products.

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